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Rail and River Transportation Issues Hamper West Virginia’s Coal Exports to Europe
March 11, 2022
Problems are cutting into the West Virginia coal industry’s ability to benefit from record-high prices for coal suddenly needed to fire Europe’s power plants. The mining industry blames railroads and a decline in its own ability to produce coal. The
Perseus Mining to Take Full Ownership of Orca Gold in $155 Million Deal
March 4, 2022
Perseus Mining has agreed to take full ownership of Canada-based gold developer Orca Gold by acquiring the remaining 85 percent stake in an all-stock deal worth C$198 million ($155.1 million). The Australia-based gold company had acquired the currently held 15
SWIFT Ban Hits Russian Coal Exports to China
March 3, 2022
Chinese buyers of coal are having trouble securing financing to buy coal from Russia, the world’s third-largest coal exporter, as China’s banks are wary of sanctions themselves after selected Russian banks were expelled from the SWIFT banking system. “Most banks
Newly Elected Honduras Government to Ban Open-pit Mining
March 2, 2022
The new government of Honduras has announced that it will ban open-pit mining in the Central American nation. The government, which was sworn in last month, also said that it would cancel environmental permits for mining operations across the country.
Energy Crisis Worsens as Russia Delays Coal Supply
February 25, 2022
Coal prices are rising again as the Russia-Ukraine crisis has put energy markets on alert and Russian coal producers struggle to get their coal via railways to export terminals due to COVID-related railway staff shortages. JSC Kuzbassrazrezugol (KRU), asked customers
Newmont to Acquire Buenaventura’s Stake in Yanacocha for $400 Million
February 24, 2022
Newmont and Compañia de Minas Buenaventura S.A.A. have entered into a definitive purchase agreement where Newmont will acquire Buenaventura’s 43.65 percent interest in Minera Yanacocha. “Newmont has successfully operated in Peru for more than 30 years and has deep knowledge
Coronado to Take on Management and Operation of Four Fleets at Its Curragh North Mining Area
February 23, 2022
Coronado Global Resources said it will take on management and operation of four mining fleets from Thiess at its Curragh North mining area, which is part of the greater Curragh Complex in Queensland’s Bowen Basin. The arrangements will see Coronado
Russia and China Sign New Coal Deal for 100 Million Ton Supply
February 23, 2022
Russia and China have agreed on a new deal that will see Russia supply 100 million tons of coal in the “coming years” to its southern neighbor. Sergey Mochalnikov, the head of the Russian Energy Ministry, announced the deal on
Tesla Secures Lithium Supply from Liontown Resources, Australia
February 21, 2022
Tesla (TSLA) has signed a contract to secure lithium supply from an upcoming mine in Australia developed by Liontown. The critical material to battery production is expected to start flowing in 2024. With the rise in popularity of electric vehicles,
France’s Renault and U.S. Carmaker Rivian Back Moratorium on Deep-sea Mining
February 16, 2022
France’s Renault and U.S. carmaker Rivian have backed a moratorium on deep-sea mining and will exclude seabed metals from their supply chains in a blow to an industry that aims to capitalize on demand from electric vehicle and other industries.
